What inspired you to pursue a career in retail? Why luxury retail?
I have always been passionate about fashion, both from a creative process point of view but also as a business. Fashion is a language which inspires all of us, bringing joy and fulfilment. Luxury fashion allows for targeting a more niche consumer segment which is more demanding and selective, a high standard of services being a must. Luxury shoppers are not only seeking gratification but is also a way of expression. Then, there is also the investment angle, people collecting and purchasing luxury items the value of which grows over time. Long term success comes from precision.
Tell us more about your views as an entrepreneur.
I started my own business 30 years ago and over time, I have gained solid experience and expertise. Every day is a new learning curve. I have been most inspired about attracting talent as well as building and motivating a team. Human resources are pivotal in any luxury sector not just fashion. Luxury retail is also about understanding trends but also about staying relevant and maintaining consistency of the business performance.
I take pride in how we have built our exceptional reputation over time and the extensive networking we have created among the wealthiest individuals in Romania. We are now ready to take our expertise abroad as we are actively seeking to expand in the region in the very near future.
Which are the most challenging aspects of luxury retail?
Over time, I have realised that identifying and securing the most appropriate real estate infrastructure is probably the most challenging. Physical retail or brick-and-mortar has been and will always remain relevant, even if e-commerce has been gaining pace. But the dynamics and the context are always changing in each major destination. Another challenge is how to motivate wealthy consumers to make their luxury purchases locally and not abroad. Price sensitivities and proposing a wide selection are paramount for a luxury retail business.
How important are buying and pricing?
Buying is critical for any luxury retail business, especially in my field, which is about major international luxury fashion brands. Nowadays, customers have become extremely knowledgeable about the latest trends but also about the manufacturing process as well as pricing. Buying is about anticipating and predicting needs but also we must not overlook wishes and desires. After all, luxury is not a necessity!
Value is crucial too and so is sustainability! Luxury consumers have been refining their own criteria to purchase – they are more and more aware about the quality of raw materials and the manufacturing process – technology will never replace making products by hand. Craftsmanship is of the essence for the world’s finest luxury brands and communicating these details is part of the service we provide.
What is your view on the most important trends in luxury retail?
While quiet luxury has been gaining pace in recent years, glamour will never cease! Most often, people love to dress up for an occasion or an outing. It is not only about self expression but also about showing and expressing taste. Social status has always been and will always be a key motivational factor for luxury goods purchases. The show-off aspect is essential – equally in the sense of belonging to a certain group but also about standing out, provoking thought, admiration as well as controversy.
Is there a recipe to achieving the best performance for a luxury retail business?
Luxury consumers are less and less loyal when it comes to luxury brands. Selecting the right brands and the right mix of brands is critical. Marketing communications and branding have to be constantly adapted for the local clientele. Transparency builds long time reliability! I have often encountered luxury stores, especially in emerging markets, which are retailing old stock as new collections – but consumers cannot be fooled! Another important aspect for us is to secure exclusive items for our stores.
Tell us more about your current businesses.
In 2009, I opened an ICON branded luxury fashion store in Bucharest at Baneasa Shopping City, a shopping mall which is still the leading one in the Romanian capital. Earlier this year, the ICON boutique has been completely overhauled and redesigned. In 2024, part of Secretist Group, we opened the SECRETIST flagship store on Calea Victoriei, the ”Champs Elysees” of Bucharest, which is often known as ”Little Paris” given the similarities of the architecture with Paris.
Alina Sabau, CEO Secretist Group
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